Senate Majority Leader Harry Reid (D-NV) last night unveiled the "Patient Protection and Affordable Care Act" (H.R. 3590), which merges health reform bills approved by the Senate Finance and Health, Education, Labor & Pensions committees. The Congressional Budget Office estimates the merged bill will cost $848 billion over 10 years and extend health coverage to 94% of legal U.S. residents by 2019, partly through a public insurance option from which states could opt out. By 2019, 24 million people would be left without coverage. The bill reduces hospital Medicare and Medicaid payments by roughly $106 billion by reducing market basket updates by 0.25% in 2010 and 2011 for inpatient and outpatient hospitals, inpatient psychiatric hospitals, inpatient rehabilitation facilities and long-term care hospitals. For 2012 through 2019, market basket updates would be reduced by an annual productivity adjustment plus an additional reduction of 0.2%. AHA members this morning received a Special Bulletin with additional details on the bill. The Senate is expected to consider later this week a motion to proceed on debate of the bill.